Vindhyavasini Hydropower Company has opened IPO sale to the public from today (office hours). The company has issued an IPO worth Rs 150 million. Accordingly, 1.5 million ordinary shares have been issued at the face value of Rs 100 per share.
Of this, 5 percent or 75,000 shares are allocated for collective investment funds and 4 percent or 60,000 shares are allocated for employees. The general public will be able to apply for the remaining 1.365 million lots. Applications can be submitted till May 10.
The company has stated that if all the shares are not sold within that period, applications can be submitted till July 15. Investors will be able to apply for a minimum of 10 lots and a maximum of 100,000 lots.
Filed an IPO of Upper Solu Hydro ?
Today (June 4) is the last day for the locals affected by the project to apply for the IPO issued by Upper Solu Hydro Electric Company Limited. The company has issued IPO for the locals affected by the project since April 7 last year.
NMB Capital has stated in the securities sales manager that one can apply for this IPO till banking time today. The company has issued a total of 1.35 million shares at 100 face value for locals.
The company has issued IPO to the locals of Taksendu, Beni, Tamakhani, Salleri, Garma, Kerung, Gorakhani, Tapting and Tingla VDCs of the present Solu Dudhkund Municipality of the project affected area of Solukhumbu district. Locals will be able to apply for a minimum of 10 lots and a maximum of 100,000 lots in this IPO.
Investors can apply from C-ASBA licensed banks and financial institutions and their branch offices from the Nepal Securities Board. In addition, applications can be submitted from NMB Bank, Laxmi Bank, Global IME Bank and Prime Commercial Bank’s Solukhumbu branch.
The company has stated that if all the shares issued for the project affected locals are not sold, the remaining shares will be issued to the general public.